Department of Justice investigators were reportedly investigating Signature Bank's ( NASDAQ: SBNY ) work with cryptocurrency-related firms before the bank was shut down by regulators. Investigators were looking into whether the lender took adequate steps to identify potential money laundering by its clients, Bloomberg reported citing unnamed sources. The Securities and Exchange Commission was also looking into the matter, the report added . Signature ( SBNY ) has not been accused of wrongdoing yet, and the investigation could be closed without further action. However, it remains unclear when the investigation began and if it had any effect on regulators' move to shutter the failed bank on Sunday. Earlier, the Federal Reserve is said to be evaluating tougher rules for midsize banks .
